EUR/CAD Daily Price Forecast – 9th April 2025

EUR/CAD Daily Price Forecast – 9th April 2025

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Trade Summary:

EURCAD
Buy Stop @ 1.57493
TP @ 1.58375
SL @ 1.56464

EUR/CAD Analysis (H4 Chart)

Key Levels

• Buy Stop: 1.57493

  • This level indicates a potential breakout point. If the price moves above this level, it could signal bullish momentum.

• Stop Loss (SL): 1.56464

  • This level is set below recent support, providing a safety net in case the trade moves against the bullish expectation.

• Take Profit (TP): 1.58375

  • This level is set near a resistance zone, where the price is expected to face selling pressure.

Technical Indicators

• Moving Averages:

  • The chart shows three moving averages (likely short-term, medium-term, and long-term):

    • Green (short-term): Indicates recent price momentum.

    • Yellow (medium-term): Reflects intermediate trends.

    • Red (long-term): Represents the overall trend direction.

  • The short-term and medium-term moving averages are crossing above the long-term moving average, signaling a bullish trend.

• Price Action:

  • The price has broken above recent consolidation, suggesting bullish momentum.

  • The candles are showing strong upward movement, with minimal wicks, indicating buying pressure.

• Support and Resistance:

  • Support: Around 1.56464 (SL level), where the price has previously bounced.

  • Resistance: Around 1.58375 (TP level), where the price may face selling pressure.

Market Sentiment

• The chart suggests a bullish sentiment, with the price breaking above the moving averages and approaching the Buy Stop level.

• If the price sustains above 1.57493, it could trigger further buying interest.

Trade Plan

• Entry: Place a Buy Stop order at 1.57493 to capitalize on the breakout.

• Stop Loss: Set at 1.56464 to limit downside risk.

• Take Profit: Target 1.58375 for a favorable risk-to-reward ratio.

Risk Management

• The distance between the Buy Stop and Stop Loss is approximately 100 pips, while the distance to the Take Profit is around 88 pips. This setup offers a near 1:1 risk-to-reward ratio.

• Adjust position size to ensure the risk per trade aligns with your trading plan.

Conclusion

The EUR/CAD pair is showing bullish momentum on the H4 chart, supported by moving average crossovers and a breakout above consolidation. A Buy Stop at 1.57493 with a Stop Loss at 1.56464 and a Take Profit at 1.58375 provides a structured trade setup. Monitor price action closely for confirmation of the breakout.

Recommended Lot Size

Trading is all about statistics.

While we can experience winning streaks, we can also suffer from losing streaks.

As such, we should always size each trade to withstand losing streaks (if any).

It’s widely recommended that you should not risk more than 2% of your capital for each trade.

We believe it’s easier to control your lot size by limiting your lot sizing to 0.01 for every $500 in your account.

So if you have $5000, then risk no more than 0.10 lot size per trade.

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If you spot a mistake especially when it comes to the price, please use common sense and check the chart.

We wish you good luck and good profit for this trade idea.

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